Salt & Straw, the beloved Portland ice cream brand, is in the early stages of exploring a significant capital transaction to fuel its next phase of growth. Co-founder and CEO Kim Malek confirmed that the company is working with investment bank Piper Sandler on a potential sale, which could value the company at more than $200 million. This move comes as Salt & Straw aims to expand its footprint while maintaining its commitment to quality and community values.
Local Roots and National Ambitions
Founded in 2011 by cousins Kim and Tyler Malek, Salt & Straw has grown from a local favorite to a nationally recognized brand. With nearly 2,000 employees, including around 200 at its Portland headquarters, the company has become a significant player in the ice cream industry. Despite its growth, Salt & Straw remains deeply rooted in Portland, with its corporate headquarters and manufacturing facility located in the city’s Central Eastside Industrial Area.
Over the years, Salt & Straw has attracted investment from notable partners, including New York City’s Union Square Hospitality Group, Oregon Venture Fund, KarpReilly, and even wrestler-turned-actor Dwayne Johnson, also known as The Rock. These partnerships have helped the company expand while staying true to its original mission.
Commitment to Community and Quality
Kim Malek emphasized the company’s dedication to its community and the guest experience, stating, “Tyler and I remain fully committed to building this company for the long term — and to the people, culture, and guest experience that have made Salt & Straw what it is, and the communities we’ve called home since day one.” This commitment to community and quality has been a cornerstone of Salt & Straw’s success and continues to guide its growth strategy.
As Salt & Straw considers this potential capital infusion, the company remains focused on maintaining the values that have endeared it to both local and national audiences. The exploration of a capital transaction is seen as a strategic step to support the next chapter of its growth, ensuring that the company can continue to innovate and delight customers with its unique flavors and community-driven approach.
Original reporting: KGW Portland — read the source article.
